Irs To Sell Sports Cards To Pay For Dealer's Taxes

Slugging away at overdue taxes

More Than 1 Million Cards Will Be Auctioned To Help Offset $259,000 In Back Income Taxes.

September 7, 1995|By Jim Leusner of The Sentinel Staff

To a cleaning-crazy mother, it might look like perfect stuff to toss into the trash. But to the Internal Revenue Service, it's money in the bank.

More than 1 million baseball cards seized from Orlando sports card dealer Edward Obey in March will be auctioned next week to help recover more than $259,000 in income taxes he owes dating to 1988.

Among the items to be auctioned are 1950s-era Topps cards, including New York Yankees great Mickey Mantle and fellow baseball Hall of Famers Willie Mays and Ted Williams.

Other cards expected to be popular are a 1968 Topps Nolan Ryan rookie card, a 1948 Leaf Joe DiMaggio card, a 1930s-era replica of a New York Yankees uniform and assorted rookie cards of basketball star Shaquille O'Neal and football great Jerry Rice. Sports figurines, racing car memorabilia and 16,000 comic books also will be sold.

''We're attempting to reduce the taxpayers' liability as much as possible,'' said Terry Wood, an IRS collections supervisor.

Obey, who formerly operated baseball card shops in Longwood and Orlando, could not be reached for comment.

The merchandise, seized from Obey's garage, a rental warehouse and three vehicles, is appraised at a minimum of $35,000. Wood said the fair market value is probably double that, but said the IRS would consider a $35,000 bid for all of the items - if they do not fetch more at auction.

''Usually we get a lot of car and office equipment,'' said IRS Revenue Officer Ginger McCarter.

Some of the hottest items may be the Mantle cards, which are in varying condition. They include a 1957 Topps, which fetches up to $1,100 in mint condition, and a 1958 Topps valued at up to $750.

''The cards were appraised before Mantle died,'' McCarter said.

Since Mantle died Aug. 13 of liver cancer, cards and memorabilia signed by him has boomed on sports-buying networks and at stores nationwide, said Alan Narz, owner of Big League sports cards in Casselberry.

Several counterfeit items have been pulled from the sale. McCarter said the appraiser also could not determine whether an autographed Roger Maris card to be sold is legitimate.

The items have been broken into 209 lots to be auctioned starting at 9 a.m. Sept. 13 at J&J Metro Moving & Storage, 1101 W. Kennedy Blvd., near Eatonville. The public can view the merchandise the afternoon before the sale. Only cash and cashier's checks will be accepted at the auction. Anyone with questions can reach McCarter at (407) 648-6558.

Wood said the IRS is taking a more streamlined approach toward taxpayers. Agents are being more understanding with first-time offenders and hard-luck cases, but less tolerant with repeat offenders and businessmen like Obey who fail to pay taxes.

The IRS has made more than 200 property seizures this year to cover tax debts, Wood said.